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Gold prices trade near session lows strong S&P flash US PMI data helping to weigh on market
Bearish sentiment appears to be finally catching up with the gold market as stronger than expected activity in the manufacturing and service sectors and technical selling pressure keep prices near session lows. Friday, the S&P Global Flash U.S. Composite PMI reported a healthy rise in activity within and service sector. The report said that the manufacturing PMI data came in at 51.8, up from August’s reading of 51.5. The data was better than expected; according to consensus estimates, economists were looking for a reading around 51. The report said that activity in the manufacturing sector is at a two-month ... (full story)
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- Posted: Sep 23, 2022 10:34am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 103
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